Thanks Charlie for the intro!

Bonds are becoming a bit more attractive, for obvious reasons.

You write:

"Either you're betting on the level/direction of interest rates, or you're betting on the level/direction of an issuer's credit-worthiness."

This is above my pay grade, so to speak. I'm simply betting that bonds will produce an acceptable rate of return at an acceptable risk level.

For years, I avoided Treasurys because they did not produce an acceptable rate of return. Although still below inflation (so I'm losing value), I now find 3 month Treasurys attractive. I can get some absolute return, and by staggering, tread water with cash becoming available each month should I choose to deploy it. I'm also stashing some money away in I-bonds (9%!--for a little while); not going to get rich off of them but also not going to lose my shirt.

The yield inversion allows me to get relatively decent returns without making a lot of commitment. I am convinced something is going to happen that either meets or defies expectations. In either case, I'll be getting a little income and keeping my options open.

Berkshire Hathaway FAQ

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